The pace marks a significant acceleration compared to earlier growth cycles, when reaching the first 50 gigawatts took over a decade.
India Set to Become World’s 2nd Largest Solar Market by 2026, Says NSEFI
India’s solar energy expansion is gaining global attention as projections suggest the country could emerge as the world’s second-largest solar power market in terms of annual capacity additions by 2026, according to industry estimates from the National Solar Energy Federation of India.
This outlook comes amid a rapid build-up in installed capacity, with India adding around 50 gigawatts in just 14 months and reaching a total of 150 gigawatts. The pace marks a significant acceleration compared to earlier growth cycles, when reaching the first 50 gigawatts took over a decade.
Experts say the momentum is being supported by policy measures and rising adoption across rooftop, industrial and agricultural solar segments, alongside emerging technologies such as floating solar projects and green hydrogen initiatives.
India’s long-term renewable energy roadmap targets 500 gigawatts of non-fossil fuel capacity by 2030, with solar power projected to account for nearly 280 to 300 gigawatts of this expansion.
Meanwhile, global market dynamics may further strengthen India’s position. Growth in established markets such as the United States and the European Union is showing signs of moderation, potentially reshaping global rankings in annual solar capacity additions.
If current trends continue, India is expected to emerge as a major contributor to global solar capacity additions in the coming years, supported by strong domestic demand and expanding clean energy infrastructure.
